I have a debt with the US Treasury of around $300K. The debt was accrued for a judgement against me for a securities violation. The debt has been outsourced to a collection agency for collection. They have sent me a letter stating that they will collect the same through wage garnishment. I know that I can't file for bankruptcy as it is not dischargeable through bankruptcy. But, can I?

Can I negotiate with the treasury to reduce the debt burden to some extent? Can I pay them on monthly basis until the amount is paid off? I just wanted to know if the Treasury negotiates, or any attorney deals with such cases.

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Debt incurred in judgments or criminal penalties are not dischargeable in bankruptcy. But an attorney can provide you with some valuable advices after reading the court order, Whether or not the debt is negotiable – a criminal lawyer is the best person to answer the same. Hope this helps!

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Last Updated on: Fri, 8 Jun 2018

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